Insider Buying: Myers Industries, Inc. (NYSE:MYE) Director Acquires 1,500 Shares of Stock

Myers Industries, Inc. (NYSE:MYE) Director Bruce M. Lisman purchased 1,500 shares of the stock in a transaction on Monday, November 25th. The stock was acquired at an average cost of $11.63 per share, for a total transaction of $17,445.00. Following the acquisition, the director now directly owns 61,093 shares in the company, valued at approximately $710,511.59. This trade represents a 2.52 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Myers Industries Stock Up 1.8 %

Shares of NYSE:MYE opened at $11.45 on Friday. The company’s fifty day moving average is $12.49 and its 200-day moving average is $13.83. The company has a debt-to-equity ratio of 1.36, a quick ratio of 1.11 and a current ratio of 1.80. Myers Industries, Inc. has a 52 week low of $10.35 and a 52 week high of $23.63. The company has a market capitalization of $426.63 million, a PE ratio of 27.26 and a beta of 1.23.

Myers Industries (NYSE:MYE) last issued its quarterly earnings data on Monday, November 4th. The industrial products company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.04). Myers Industries had a return on equity of 14.75% and a net margin of 1.88%. The firm had revenue of $205.07 million for the quarter. During the same quarter last year, the company earned $0.38 earnings per share. Equities research analysts predict that Myers Industries, Inc. will post 0.95 earnings per share for the current fiscal year.

Myers Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 3rd. Shareholders of record on Tuesday, December 3rd will be given a $0.135 dividend. The ex-dividend date is Tuesday, December 3rd. This represents a $0.54 annualized dividend and a yield of 4.72%. Myers Industries’s payout ratio is 128.57%.

Hedge Funds Weigh In On Myers Industries

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of Myers Industries by 6.8% in the first quarter. Vanguard Group Inc. now owns 2,846,620 shares of the industrial products company’s stock valued at $65,956,000 after buying an additional 182,215 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Myers Industries by 0.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,604,324 shares of the industrial products company’s stock valued at $21,466,000 after acquiring an additional 4,777 shares in the last quarter. Gabelli Funds LLC raised its stake in shares of Myers Industries by 3.9% in the second quarter. Gabelli Funds LLC now owns 1,572,250 shares of the industrial products company’s stock worth $21,037,000 after acquiring an additional 58,500 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Myers Industries by 8.3% during the second quarter. Renaissance Technologies LLC now owns 1,480,597 shares of the industrial products company’s stock worth $19,810,000 after purchasing an additional 113,100 shares in the last quarter. Finally, State Street Corp lifted its position in shares of Myers Industries by 2.6% during the third quarter. State Street Corp now owns 1,374,246 shares of the industrial products company’s stock worth $19,176,000 after purchasing an additional 35,456 shares in the last quarter. Institutional investors and hedge funds own 90.82% of the company’s stock.

Analysts Set New Price Targets

Separately, KeyCorp lowered shares of Myers Industries from an “overweight” rating to a “sector weight” rating in a research report on Wednesday, November 6th.

About Myers Industries

Myers Industries, Inc engages in distribution of tire service supplies in Ohio. It operates through two segments, The Material Handling and Distribution. The Material Handling segment offers pallets, small parts bins, bulk shipping containers, and OEM parts, as well as storage and organization, and custom plastic products; and injection molded, rotationally molded or blow molded products, consumer fuel containers and tanks for water, fuel, and waste handling.